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Bhushan Steel Ltd. Company History and Annual Growth Details

1983 - The company was incorporated on 7thJanuary, under the name of Jawahar
Metal Industries Private Limited for the manufacture of cold rolled steel strips
and steel ingots at Sahibabad Industrial Area, District Ghaziabad.

1987 - On 14th January, Brij Bhushan Singal and his sons Sanjay Singal and Neeraj
Singal and associate companies took over the management of the company
by acquiring the entire share capital of the company.

1989 - The company undertook the setting up of a new plant for the manufacture of wide
width Cold Rolled Steel Strips with integrated plant facilities.

- The company became a deemed public limited company under Section 43-A
(I-A) of the Companies Act, 1956 with effect from 14th July.

1992 - The name of the company was changed to the present name of Bhushan Steel & Strips
Limited and fresh Certificate of Incorporation was issued on 9th June.

- The company completed the expansion of the cold rolling plant in September.

1993 - The company made its maiden Public Issue of 22 lac equity shares of Rs.10 each
at a premium of Rs.55 share aggregating Rs. 1430 lacs in September/October.

- The shares of the company were listed on the Delhi Stock Exchange on 22nd December
consequent to which the company became a widely held listed public limited company.

- The Company allotted 26,43,600 No. of Equity Shares of Rs.10 each at a premium of
Rs.55 per share on 3rd December. As a result of this, the total issued capital of the
Company has increased to Rs. 11.00 Crores.

1994 - The galvanising plant was commissioned in January. Presently the company has
facilities for the manufacture of 1,20,000 tonnes per' annum of wide width cold rolled
steel strips and 1,00,000 tonnes per annum of galvanised sheets.

- The Company proposes to set up a new plant for manufacture of 1.5 lac tpa of wide
width CRCA Coils with further integration by way of 40,000 tpa of Galvanised Sheets
at an adjacent/contiguous location to the existing plant facilities at Sahibabad
Industrial Area, Distt. Ghaziabad in Uttar Pradesh.

- The Company proposes to set up an Integrated Steel Plant for manufacture of 1.2
Million Tonnes per year of H.R. Coils at Daitari in the State of Orissa.

- The Company has engaged Metallurgical & Engineering Consultants (India) Ltd.
(MECON) as engineering Consultants for setting up the Integrated steel plant.

1995 - The Cold Rolling Expansion the Company is installing state of the art 1600mm
width 6HI combination Universal Crown Mill (UCM) of Hitachi, Japan with
sophisticated features for shape control and surface finish to cater to the
requirements of the automobile and white goods sector.

- The Company offered a Right Issue of 82,50,000 Unsecured Zero lnterest
Convertible Debentures aggregating Rs. 5362.50 lacs with Detachable
Warrants which was well received by the shareholders and was over subscribed.

- The Company also made a Public Issue of 68,94,800 - 14% Unsecured Fully
Convertible Debentures aggregating Rs. 16750 Lacs including firm allotment
of 20,24,800 Debentures aggregating Rs. 5062 Lacs.

- Bhushan Capital & Credit Services Ltd. and Jawahar Credit & Holdings Ltd.
are subsidiaries of the Company.

1996 - The Part B of 68,94,800 14% unsecured fully convertible Debentures aggregating
Rs 8375 Lacs have been converted into Equity Shares w.e.f. 1st April.

1998 - With the commissioning of the new plant recently set up at company's existing site
at Sahibabad (UP), the company is now exploring further growth possibilities of
setting up a modern Cold Rolling cum Galvanizing Unit at West Coast of the Country.

- The Delhi-based Bhushan Steel and Strips Ltd to setup two steel cold rolling and
galvanising units - one near Haldia and the other at Patalganga, near Mumbai.

- The Rs.800-crore Bhuhsan Steel has commissioned a cold rolled steel plant at
Ghaziabad, in collaboration with Sumitomo of Japan, which will cater to the needs
of the automotive sector.

1999 - During the year, the company has set up a dedicated service centre for large
OEM customers at Sahibabad so as to ensure supplies to them on 'just in time'

2000 - The Delhi-based Bhushan Steel and Strips' to set up a Rs 750 crore cold rolled
steel plant is likely to hit a road block.

- The company has proposed to set up a steel plant with a 2.8 m t p.a capacity on
5,000 acres of land in a two-phase programme.

- Bhushan Steel & Strips is to set up Rs 4,000 crore, 2.5 million tonne hot-rolled coil
steel plant.

- The company is also exploring possibility of raising funds through the GDR and
ADR route.

- The Board has approved amalgamation of Bhushan Ltd. with the company and
setting up project of 2,50,000 tpa Cold Rolled Products in Maharashtra.


-Strikes an important position in the market for cold rolled steel for automobiles, feeding over 70% of demand for car bodies.


-Enters into a strategic alliance with Sumitomo Metal Industries of Japan under which, the latter has further extended process know-how for the manufacture of automotive steel sheets for a period of six years

-Board approves the setting up of Hot Rolled Coil Project in Orissa

-Sanjay Singal resigns as Managing Director of the company

-Board approves Delisting of Equity Shares from Ahmedabad, Calcutta & Delhi Stock Exchanges


-Bhushan Steel awards Rs 36 cr order for BHEL

-Delists shares from Ahmedabad and Delhi Stock Exchanges


-Bhushan Steel & Strips Ltd has informed that Sh. Sanjay Singal, has ceased to be a Director of the Company w.e.f. October 18, 2006.


-Company name has been changed from Bhushan Steel & Strips Ltd to Bhushan Steel Ltd


-Bhushan Steel Ltd has informed that w.e.f. September 23, 2008, Sh. B B Tandon has been appointed as an Additional Director on the Board of the Company as a Independent Non-Executive Director.

-Bhushan Steel Ltd has informed that the Company has signed two Joint Ventures with Bowen Energy Ltd., Australia regarding exploration and commissioning of coal mine(s) in Australia.

-Bhushan Steel - MoU with Madhya Pradesh Govt.


-Bhushan Steel buys Aussie exploration firm


- Bhushan Steel Ltd has informed that Life Insurance Corporation of India has appointed Smt. Sunita Sharma, their representative as a Nominee Director on the Board of the Company.
Oct 21, 12:00 am
Oct 21, 4:14 pm
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